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Regime: Risk-off, fueled by rising real yields and renewed Iran tensions, with VIX at 18.06 and DXY bid. Today’s market themes: Oil shock revival: Geopolitical tensions around Iran exacerbate supply concerns, driving crude higher. Rates repricing: Dimon’s hawkish comments reinforce the potential for higher-for-longer, lifting Treasury yields. Mixed PMI signals: Eurozone…
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Where we are: The DXY currently trades around 119.35, buoyed by a persistent bid in US Treasury yields. Overnight, the index traded in a narrow range, consolidating gains from earlier in the week. The index remains above the 119.28 level last seen Friday, having broken above that on Tuesday’s close. What’s…
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Where we are: S&P 500 futures are currently trading lower, around 5285, trimming yesterday’s rebound. The index is struggling to break above resistance at 5300, and remains below last week’s highs. Overnight range has been relatively tight, but we are seeing some pressure as Treasury yields climb. What’s driving it: Rising…
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Where we are: Gold is trading around $4,495 an ounce, modestly weaker after an overnight range of $4,480-$4,510. The yellow metal is struggling to hold ground, pressured by a stronger dollar and rising real yields, and trading below yesterday’s NY close. What’s driving it: Rising US real yields are the primary…
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Where we are: EUR/USD is currently trading around 1.1600, near its weakest level since early April. The pair traded in a tight overnight range, failing to hold onto earlier gains after disappointing Eurozone PMI data. It is currently below yesterday’s New York close, suggesting continued selling pressure. What’s driving it: The…
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Where we are: Nasdaq 100 futures are currently trading lower, pressured by rising Treasury yields and mixed reactions to recent earnings reports. The NQ is down approximately 0.8% as of 13:00 London, sitting near the lower end of its overnight range. This contrasts with a slightly more positive tone in the…
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Where we are: Cable currently trades at 1.2635, consolidating near the bottom of its recent range. Overnight, GBP/USD oscillated between 1.2620 and 1.2670. This level is significantly below yesterday’s NY close of 1.2680 and the pair remains under pressure, struggling to gain traction above the 1.2650 mark. Technicals suggest further downside…
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Where we are: USD/JPY is currently trading around 159.30, bouncing slightly after an earlier dip. The pair remains within sight of recent highs, having consolidated overnight after a volatile few sessions. Key support lies at 158.50, with resistance around 160.00, the level that triggered suspected BoJ intervention last month. The prior…
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Where we are: Dow futures are currently trading around 39,850, slightly lower, trimming some of yesterday’s rebound. The overnight range has been relatively contained, and we’re holding above the key 39,700 support level, but below yesterday’s New York close near 39,900. The index is struggling to find a clear direction ahead…
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Where we are: USDCAD is trading near 1.3795, testing the upper end of its overnight range. The pair remains bid, a continuation of the trend seen in the last few sessions, and above yesterday’s NY close of 1.3760. Technical resistance looms around 1.3820, a level that has capped rallies in recent…
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Where we are: Bitcoin is currently trading around $67,850, testing the lower end of its recent range. Overnight action saw BTC briefly dip below $67,500 before a slight bounce. This level represents a key area of support, with the next major level down around $66,000. BTC closed yesterday’s NY session near…
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Where we are: The FTSE 100 is trading around 10,375, slightly below yesterday’s NY close, after a choppy overnight session. Resistance sits at 10,450, the previous intraday high. Support comes in around 10,320, the overnight low. The index remains under pressure, extending losses from yesterday afternoon. What’s driving it: The UK…
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Snapshot: AUD/USD remains pressured near $0.6650 after this morning’s mixed labour data; unemployment unexpectedly ticked higher to 4.5% while employment change missed forecasts, sparking concerns about the RBA’s tightening path. The data is a potential game-changer if sustained into next month. Watch for a break below $0.6630, which would open the…
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Snapshot: WTI crude futures are trading tentatively around $100, recovering from recent losses. The latest release from the Strategic Petroleum Reserve, the largest on record, highlights a willingness to combat high prices, while Iran’s hardened stance in nuclear talks tempers hopes for increased supply. Watch for impact from the 08:30 ET…
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Snapshot: The Nikkei 225 closed up 3.14% at 61,684, driven by renewed optimism surrounding AI demand and strong earnings from Nvidia, which boosted sentiment across global technology markets. BoJ Board Member Koeda’s speech offered little new impetus, leaving the market focused on external drivers. US 10Y real yields continue to creep…
